Updating from 10.1.1 to latest version

Hi dear FCPX community,

I have a project that I've been working on for two years and haven't updated FCPX since I started. However, I'm inclined to update now as I want to start using some plugins that won't work with my old version. Ever since FCP started using libraries I've been hesitant to update anything just in case my 2TB library file gets screwed up somehow and all my work is gone (I find the library system confusing and am scared of FCPX trying to convert it into something new that will mess it up / mess up all my timelines in there). I'm having problems backing up my library too, which makes it worse (I don't have that much free disk space and the few times I've tried the file is too big to transfer). I read up on the updates and if I'm not mistaken there has only been two new versions released and none of them should do such thing, but I want to reach out and see what people think. Am I safe to update my FCPX and will it do anything to my library files or timelines that I might regret later? I guess at the same time I'll be updating my OSX as well.

My current version: 10.1.1

Thank you so much in advance!

Cheers,

Chris